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Golden Ridge describes assays as "remarkable"

Golden Ridge Resources (CN: GLDN) has described its second assay results from drilling at the Hank project in British Columbia’s Golden Triangle as “remarkable” with highlights including visible gold in a 60.27m intersection grading 2.6g/t gold equivalent from 52.7m.
Golden Ridge describes assays as "remarkable" Golden Ridge describes assays as "remarkable" Golden Ridge describes assays as "remarkable" Golden Ridge describes assays as "remarkable" Golden Ridge describes assays as "remarkable"

Drilling at the Hank project

Staff reporter

Other highlights included 1.05g/t AuEq over 78.23m, within a broader 201.48m grading 0.73g/t AuEq.

"To drill consistent grades between holes on each section over a strike length of 1.1 km is remarkable," CEO Michael Blady said.

"Gaining an understanding of the controls on mineralization in the LAZ [Lower Alteration Zone], including the discovery of a mineralized intrusion in HNK-17-009 gives Golden Ridge a major advantage over historical operators, which only sparsely tested the zone."

The company has the option to acquire 100% of the gold-silver-lead-zinc property by spending C$1.7 million (US$1.3 million) on exploration work by the end of 2018.

Golden Ridge was acquired in a reverse takeover, finalised in October, by 88 Capital which has changed its name to Golden Ridge Resources.

It reported a net loss of $52,818 (US$41,000) for the September quarter, greater than the June quarter loss but a decrease on the previous corresponding period.

Shares in the company closed down 10.5% to C17c.

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